ACTIVE

PIPELINK

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Financial year 2025 · closed on 31/12/2025

Net result

4,1 M €

-0.5% YoY

Revenue

21,1 M €

+7.0% YoY

Equity

37,3 M €

+12.5% YoY

Workforce

7,2 ETP

-19.1% YoY

What does PIPELINK do?

PIPELINK is a Public limited company incorporated in 1978. Its main activity is: Transport via pipeline. Its registered office is in Antwerpen. It employs on average 7,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0418.190.556

Incorporation

22/03/1978

Legal form

Public limited company

Registered office

Zaha Hadidplein 1
2030 Antwerpen · FlandreSee on map

Contributed capital

27 035 889,00 €

Latest accounts

31/12/2025

Average workforce

7,2 ETP

Activities (NACE)

49500Transport via pipeline· main 49500Transport via pipeline 60300Programming and broadcasting activities

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	21,1 M €	+7.0%	19,7 M €	+36.1%	14,5 M €	-4.1%	15,1 M €	+5.4%	14,3 M €	+7.4%	13,3 M €	-10.6%	14,9 M €	+6.2%	14 M €	+7.4%	13,1 M €	+3.3%	12,6 M €	-1.6%	12,9 M €	+0.8%	12,8 M €	-1.8%	13 M €	-13.0%	14,9 M €	+29.3%	11,5 M €	+1.9%	11,3 M €	-4.1%	11,8 M €	-4.3%	12,4 M €	-5.3%	13 M €	-12.7%	14,9 M €
EBITDA	6,9 M €	+21.2%	5,7 M €	+14.7%	4,9 M €	+9.3%	4,5 M €	-13.3%	5,2 M €	+7.9%	4,8 M €	+0.5%	4,8 M €	-10.8%	5,4 M €	+0.4%	5,4 M €	+27.3%	4,2 M €	-1.8%	4,3 M €	-0.0%	4,3 M €	+2.7%	4,2 M €	+28.7%	3,2 M €	-6.5%	3,5 M €	+0.5%	3,5 M €	-4.6%	3,6 M €	-10.0%	4 M €	+3.9%	3,9 M €	-27.7%	5,4 M €
Operating result	4,5 M €	+7.7%	4,2 M €	+6.0%	4 M €	+18.2%	3,4 M €	+30.7%	2,6 M €	-23.5%	3,4 M €	-1.9%	3,4 M €	-4.9%	3,6 M €	+4.3%	3,4 M €	+49.6%	2,3 M €	+10.9%	2,1 M €	+4.1%	2 M €	+3.8%	1,9 M €	+36.4%	1,4 M €	-14.6%	1,6 M €	+1.1%	1,6 M €	-7.3%	1,8 M €	-24.2%	2,3 M €	+25.6%	1,8 M €	+2.0%	1,8 M €
Net result	4,1 M €	-0.5%	4,2 M €	+19.7%	3,5 M €	+13.5%	3,1 M €	+29.0%	2,4 M €	-25.4%	3,2 M €	+17.4%	2,7 M €	-0.3%	2,7 M €	-76.9%	11,8 M €	+604%	1,7 M €	+6.8%	1,6 M €	+6.2%	1,5 M €	-0.9%	1,5 M €	+26.2%	1,2 M €	-10.1%	1,3 M €	-3.1%	1,4 M €	-2.5%	1,4 M €	-94.5%	25,2 M €	+456%	4,5 M €	+316%	1,1 M €
Balance sheet
Equity	37,3 M €	+12.5%	33,2 M €	+14.4%	29 M €	+99.4%	14,6 M €	+0.0%	14,6 M €	+0.0%	14,6 M €	+0.0%	14,6 M €	+0.0%	14,6 M €	+0.0%	14,6 M €	-28.7%	20,4 M €	+0.0%	20,4 M €	+0.8%	20,2 M €	+0.0%	20,2 M €	+0.0%	20,2 M €	+0.0%	20,2 M €	-7.8%	21,9 M €	+0.0%	21,9 M €	+0.0%	21,9 M €	+0.7%	21,8 M €	-2.9%	22,4 M €
Total assets	51,3 M €	+16.8%	43,9 M €	-4.5%	46 M €	+35.5%	33,9 M €	-0.0%	33,9 M €	+3.6%	32,7 M €	+39.9%	23,4 M €	+0.5%	23,3 M €	-0.6%	23,4 M €	-25.4%	31,4 M €	-4.3%	32,9 M €	-4.2%	34,3 M €	-4.4%	35,9 M €	-0.7%	36,1 M €	-6.2%	38,5 M €	-4.2%	40,2 M €	-5.1%	42,4 M €	-37.4%	67,7 M €	+54.3%	43,9 M €	-2.8%	45,1 M €
Cash	23,8 k €	+25.9%	18,9 k €	-98.5%	1,3 M €	-74.9%	5,1 M €	+26.1%	4 M €	-12.9%	4,6 M €	+50.6%	3,1 M €	-34.9%	4,7 M €	+67.6%	2,8 M €	-18.3%	3,4 M €	+18.9%	2,9 M €	+32.1%	2,2 M €	+14.0%	1,9 M €	-41.6%	3,3 M €	+1023%	292,9 k €	+52.9%	191,6 k €	+159%	74,1 k €	-32.3%	109,5 k €	-12.9%	125,7 k €	-75.0%	503,4 k €
Debts	13,9 M €	+30.4%	10,7 M €	-35.9%	16,7 M €	-10.9%	18,7 M €	-0.1%	18,7 M €	+3.2%	18,1 M €	+107%	8,8 M €	+1.2%	8,7 M €	-1.2%	8,8 M €	-19.9%	10,9 M €	-11.5%	12,4 M €	-11.1%	13,9 M €	-10.3%	15,5 M €	-1.9%	15,8 M €	-12.5%	18 M €	-0.0%	18 M €	-10.6%	20,2 M €	-55.8%	45,6 M €	+108%	21,9 M €	-2.3%	22,4 M €
Other
Workforce	7,2 ETP	-19.1%	8,9 ETP	+29.0%	6,9 ETP	0.0%	6,9 ETP	0.0%	6,9 ETP	+19.0%	5,8 ETP	+16.0%	5,0 ETP	+22.0%	4,1 ETP	+7.9%	3,8 ETP	0.0%	3,8 ETP	-17.4%	4,6 ETP	-4.2%	4,8 ETP	0.0%	4,8 ETP	0.0%	4,8 ETP	0.0%	4,8 ETP	0.0%	4,8 ETP	+6.7%	4,5 ETP	-2.2%	4,6 ETP	-4.2%	4,8 ETP	0.0%	4,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 70 ended

Active mandates

Guy JANSSENS

Director

Active

Jacques VANDERMEIREN

Chairman of the board of directors

Active

Jan ADAM

Director

Active

Maarten DEN DEKKER

Director

Active

Tom HAUTEKIET

Director

Active

Ended mandates

Maarten DEN DEKKER

Director · since 31 janvier 2025

Ended

Daan SCHALK

Director · since 15 décembre 2023

Ended

Guy JANSSENS

Director · since 15 décembre 2023

Ended

Tom HAUTEKIET

Director · since 15 décembre 2023

Ended

At this address

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APEC - ANTWERP/ Flanders Port Training Center VZW● Active	0416.970.633
Brandweernetwerk Zeehaven-Schelde● Active	1003.720.168
DEURGANCKDOKSLUIS● Active	0837.547.290
Haven van Antwerpen - Brugge● Active	0248.399.380
JABELMAT● Active	0404.479.013
NxtPort● Active	0429.672.881
PAI Invest● Active	0678.600.518
Port of Antwerp-Bruges International● Active	0466.583.658
RAILPORT ANTWERPEN● Active	0538.888.250
SANTIAGO● Liquidation	0663.906.305

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	19/05/2026	27/05/2025	11/06/2024	08/06/2023	02/06/2022	26/05/2021
General meeting	05/05/2026	06/05/2025	07/05/2024	02/05/2023	03/05/2022	04/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	05/05/2026	19/05/2026	Dutch	PDF
Full model	31/12/2024	06/05/2025	27/05/2025	Dutch	PDF
Full model	31/12/2023	07/05/2024	11/06/2024	Dutch	PDF
Full model	31/12/2022	02/05/2023	08/06/2023	Dutch	PDF
Full model	31/12/2021	03/05/2022	02/06/2022	Dutch	PDF
Full model	31/12/2020	04/05/2021	26/05/2021	Dutch	PDF
Full model	31/12/2019	05/05/2020	29/05/2020	Dutch	PDF
Full model	31/12/2018	07/05/2019	24/05/2019	Dutch	PDF
Full model	31/12/2017	02/05/2018	18/05/2018	Dutch	PDF
Full model	31/12/2016	02/05/2017	11/08/2017	French	PDF
Full model	31/12/2015	03/05/2016	31/05/2016	French	PDF
Full model	31/12/2014	05/05/2015	30/06/2015	French	PDF
Full model	31/12/2013	06/05/2014	21/05/2014	French	PDF
Full model	31/12/2012	07/05/2013	23/05/2013	French	PDF
Full model	31/12/2011	02/05/2012	14/06/2012	French	PDF
Full model	31/12/2010	03/05/2011	18/05/2011	French	PDF
Full model	31/12/2009	04/05/2010	04/06/2010	French	PDF
Full model	31/12/2008	05/05/2009	04/06/2009	French	PDF
Full model	31/12/2007	06/05/2008	06/06/2008	French	PDF
Full model	31/12/2006	02/05/2007	20/06/2007	Dutch	PDF
Full model	31/12/2006	02/05/2007	20/06/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 70 ended

Active mandates

Guy JANSSENS

Director

Active

Jacques VANDERMEIREN

Chairman of the board of directors

Active

Jan ADAM

Director

Active

Maarten DEN DEKKER

Director

Active

Tom HAUTEKIET

Director

Active

Ended mandates

Maarten DEN DEKKER

Director · since 31 janvier 2025

Ended

Daan SCHALK

Director · since 15 décembre 2023

Ended

Guy JANSSENS

Director · since 15 décembre 2023

Ended

Tom HAUTEKIET

Director · since 15 décembre 2023

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates06/01/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring24/07/2025
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring23/05/2025
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates17/07/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/07/2021
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20254,1 M €↓
01/09/2025
nominationRob Wattelé — dagelijks bestuurder
03/02/2025
nominationHakim Boutkabout — dagelijks bestuurder
31/01/2025
nominationMaarten den Dekker — bestuurder
2024
Annual accounts 20244,2 M €↑
07/05/2024
reconductionBDO Bedrijfsrevisoren BV — commissaris
07/05/2024
nominationMichaël Delbeke — vaste vertegenwoordiger
2023
Annual accounts 20233,5 M €↑
02/05/2023
reconductionJacques Vandermeiren — bestuurder
02/05/2023
reconductionJan Adam — bestuurder
02/05/2023
reconductionGert Van de Weghe — bestuurder
2022
Annual accounts 20223,1 M €↑
2021
Annual accounts 20212,4 M €↓
2020
Annual accounts 20203,2 M €↑
2019
Annual accounts 20192,7 M €↓
2018
Annual accounts 20182,7 M €↓
2017
Annual accounts 201711,8 M €↑
2016
Annual accounts 20161,7 M €↑
2015
Annual accounts 20151,6 M €↑
2014
Annual accounts 20141,5 M €↓
2013
Annual accounts 20131,5 M €↑
2012
Annual accounts 20121,2 M €↓
2011
Annual accounts 20111,3 M €↓
2010
Annual accounts 20101,4 M €↓
2009
Annual accounts 20091,4 M €↓
2008
Annual accounts 200825,2 M €↑
2007
Annual accounts 20074,5 M €↑
2006
Annual accounts 20061,1 M €
22/03/1978
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

PIPELINK

Overview

What does PIPELINK do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline